This image is part of a series that was created for an open textbook, Fundamentals of Business, 4e. The textbook will be available Fall 2022 at https://vtechworks.lib.vt.edu/.

Preferred citation:

Kindred Grey (2022). "The financial life cycle." CC BY 4.0.

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Alternative text:

A graphical representation of the financial life cycle. The x-axis shows age from 20 to 80 in ten year increments. The graph is split into three stages. Stage 1 extends from 20 to 50. Stage 2 extends from 50 to 70. Stage 3 extends from 70 to 80. A large right sided arrow lies in the top of the graph, labeled “Life Events.” Five events lie on the life events arrow representing events at different ages. Age and events from left to right: Age 20, Young Adult; Age 25, Family Formation; Age 35, Family Development; Age 50, Family Maturity; Age 75, Retirement. A curved line representing income begins at the origin of the graph, steadily increases and peaks around 60 years old, then steadily decreases at the same rate. Five straight orange lines representing “Financial Priorities” lie under the income line vertically, beginning and ending at different ages. Age ranges and priorities listed from bottom to top are: Age 20 to 70, Consumption and savings; Age 20 to 60, Debt; Age 30 to 75, Insurance planning; Age 35 to 75, Investment; Age 50 to 80, Estate and tax planning.

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